Hi Guys,
I am curious about the functioning of real estate listing portals. Note that I am not talking about free classified sites but specialised portals.
Typically at a real estate listing site, after a buyer sees a property on the portal and is interested in it, he fills a small form containing his personal and contact details.
I would like to know what exactly the portal does then. I mean they contact the interested person directly or it sends the lead to the builder and he looks after contacting and convincing the lead?
What is revenue model of such portals? How do these portals earn revenue?
I would be really thankful if someone helps me understand this.
Regards,
Shravan
Mansoor Shaikh
Yes as you said above when builder get leads from portal website either they take further from their own (most of the cases). Some do have setup for calling who take care after they get inquiry within portal.
The revenue model would be lead base (pay per lead) or would be promotional package base.
Alok Rodinhood Kejriwal
I think the value creation of housing and commonfloor is creating the data bank of assets that will constantly be churned
So, they invest in photographing and geo tagging properties which over 60 months will rotate tenants at least 2-3 times
Partha Chakraborty
There are 2 kinds of real estate listing portals.
1. Sites like 99acres, commonfloor, magicbricks and makaan. They charge listing fees to owners/builders/brokers. For bigger construction projects, they also do earn advertising fees. So, you can advertise your property for a fee and then get potential leads from buyers.
2.Sites like proptiger and indiahomes. They tie up with owners/builders/brokers and earn brokerages from buyer/seller. Here the site acts like a broker.
Shravan
Thanks Alok sir!
Shravan
Thanks Partha for giving me an idea about revenue model of real estate listing sites.
Shravan
Thanks Mansoor!